Ursula von der Leyen, Nicolas Schmit, Anders Vistisen and Sandro Gozi debate economy – as it happened

• Senior European politicians debated economic policy in Brussels, ahead of the June European elections.

• Ursula von der Leyen, the current European Commission president and lead candidate for the centre-right European People’s party, called for completing the capital markets union and said issues such as defence, security and competitiveness must be among the priorities for the EU’s next long-term budget.

• Nicolas Schmit, for the Party of European Socialists, argued competitiveness includes investing in health, housing, education and infrastructure. He also called for a debate with citizens on real challenges.

• Sandro Gozi, debating for Renew Europe Now, called for eliminating obstacles within the EU’s single market and called for Europe to focus more on industry.

• Anders Vistisen, from the far-right Identity and Democracy Party, said the European economy is fundamentally broken and called for the EU to cut costs.

• Spain said it is permanently withdrawing its ambassador from Argentina as a result of a growing diplomatic feud with the South American country’s radical rightwing president, Javier Milei.

• A “foreign agents” law that has brought hundreds of thousands of people on to the streets of Georgia’s capital of Tbilisi could be dropped in return for a package of economic and security support from Washington, the ruling party has hinted.

• Emmanuel Macron, the French president, will travel to New Caledonia, a spokesperson announced.

• The move comes after deadly violence has paralysed the French overseas territory after lawmakers in Paris approved a constitutional amendment to allow recent arrivals to the territory to vote in provincial elections.

• Groups of tourists were evacuated from New Caledonia to Australia and New Zealand.

• Karl Nehammer, the Austrian chancellor, hosted the British prime minister, Rishi Sunak. The two leaders discussed migration.

• Finland’s government proposed emergency legislation today to block asylum seekers entering from its border with Russia.

The debate has ended.

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Anders Vistisen, for the far-right Identity and Democracy party, said in his concluding remarks that the next five years will be crucial, arguing there’s been an EU power grab.

Nicolas Schmit, for the Party of European Socialists, said Europe must be bold, innovative, courageous. We need a strong debate with our citizens on the real challenges, he argued.

Sandro Gozi said Europe must become a military and industrial power.

He also stressed there’s a need for one market – and dismantle all remaining obstacles. And he talked about reform.

In her closing remarks, Ursula von der Leyen, the European People’s party lead candidate, said the core task is to create good jobs and to ensure the social market economy prevails.

She said she wants Europe to lead on cutting-edge technologies.

Von der Leyen also said geopolitics is playing a role, but that the single market should be strengthened.

Anders Vistisen, for the far-right Identity and Democracy party, said Europe is living beyond its means.

Sandro Gozi for Renew Europe Now listed his priorities as security, digital, green transition and focusing more on investment with cross-border dimension.

Nicolas Schmit, for the Party of European Socialists, said competitiveness includes investing in health, housing, education, infrastructure.

Asked about the priorities for the next EU budget, Ursula von der Leyen said defence, security, competitiveness, decarbonisation, digitalisation are among the priorities but that a discussion is needed with leaders. Topics like agriculture and cohesion will play a role, she noted.

We can have a more efficient budget, she argued.

Ursula von der Leyen avoided giving a concrete answer on the question of whether to have a new round of EU joint debt.

Ursula von der Leyen pointed to the growth rate in countries that joined the EU 2-0 years ago.

Nicolas Schmit argued the EU budget is not enormous. Defence is not for free, security is not for free, he said.

We have to have the right instruments, he said. We have to be more flexible, he added.

We need more own resources, he said, referring to income for the budget that does not come from national coffers’ contributions.

Sandro Gozi called for a more demanding mechanism linking the EU budget to respect for fundamental freedoms.

Ursula von der Leyen made three points:

There is no one EU budget, in her view. Besides the seven-year Multiannual Financial Framework (MFF), she pointed to several instruments negotiated over the past years.

There’s a need to define priorities for the next MFF, she stressed.

She also argued there’s a need for more simplicity.

If I want to cut, I want to cut on time and complexity, she said.

Anders Vistisen, for the far-right Identity and Democracy Party, said the EU already has a sufficient budget and that half the EU agencies should be abolished. The EU is already too big and too bureaucratic, he argued.

The debate has moved to the issue of the EU budget.

Nicolas Schmit, for the Party of European Socialists, said Europe has created a platform for legal migration, working with member states, and that there’s an acceptance that Europe needs migration.